News & Analysis

SCRS approves $50m commitment

The US public pension has committed to a global senior debt fund.

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Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $41.65 billion
Allocation to Alternatives: 20.1%

South Carolina Retirement System has confirmed a $50 million commitment to KKR Lending Partners IV, according to minutes from the pension’s April 2022 commission meeting.

Fund IV, managed by KKR, is targeting corporate senior debt opportunities in North America, Europe and the Asia-Pacific region. The fund launched in March 2022. The pension also invested $215 million in the funds predecessor, which closed in November 2018.

The $41.65 billion US public pension’s private debt fund commitments tend to focus on corporate North America vehicles targeting senior, subordinated or mezzanine debt returns.

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